MANAGERIAL ECONOMICS

Course Outline

TOPICS:

1. Introduction to Economics (2)

- What is Economics?
- Nature of Economics
- Scope of Economics
- What is Business Economics?
- Difference between Micro and Macro Economics
- Laws of Economics
- What is Business Cycle?
- What is Inflation?

2. Demand Analysis (2)

- What is Demand?
- Types of Demand
- Determinants of Demand
- Law of Demand
- What is Demand Schedule?
- What is Demand Function?
- What is Demand Curve?
- Demand Curve Shifts

3. Supply Analysis (2)

- What is Supply?
- Determinants of Supply
- Law of Supply
- What is Supply Schedule?
- What is Supply Curve?
- Supply Curve Shifts
4. Elasticity of Demand and Supply (2)
- Elasticity of Demand
- Price Elasticity of Demand
- Types of Price Elasticity of Demand
- Factors Affecting Price Elasticity of Demand
- Importance of Price Elasticity of Demand
- Income Elasticity of Demand
- Cross Elasticity of Demand
- Elasticity of Supply

5. Consumer Demand Analysis (3)

- Utility in Economics
- Consumer Demand
- Law of Diminishing Marginal Utility
- Indifference Curve
- Demand Forecasting
- Methods of Demand Forecasting
- Criteria for Good Demand Forecasting

6. Cost and Production Analysis (2)

- Production in Economics
- Production Possibility Curve
- Production Function
- Types of Production Functions

7. Cost and Revenue Analysis (2)

- Types of Cost
- Short Run Cost
- Long Run Cost
- Economies of Scale and Diseconomies of Scale
- What is Revenue?

8. Market Structure (2)

- Types of Market Structures
- What is Market Power?
9. Market Failure (2)
- What is Market Failure?
- Price-Ceiling and Price Floor

10. Special Pricing Practices (2)

11. Game Theory (2)